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Smart Money, Dumb Idea: Bad Bets by Financial Pros 

By Ben Steverman - 2013-10-22T17:22:03Z

Photograph by Don Emmert/AFP via Getty Images

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Sallie Krawcheck: Poorly Prepared for 2008

In about 2007, when my financial adviser and I stress-tested my portfolio for an equity market shock, we did a poor job of really understanding the risk in my full portfolio, and not just in my investment portfolio. We analyzed what would happen if the stock market corrected, but didn’t fully think through that my Citigroup stock would probably go down much more. I could well lose my job, which I did. My husband’s holdings would be significantly impacted because he’s also in financial services, and our real estate would go down a lot. Perhaps we wouldn’t have done anything differently, but we were thinking about money too narrowly.

A former senior executive at Citigroup and Bank of America, Sallie Krawcheck this year bought 85 Broads, a network of 30,000 professional women.

Report: The Fight Over Financial Literacy